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DOUBLE WHAMMY: INFLATION UP, IIP DOWN

Why in news?

  • Government data showed industrial production contracted again in December 2019,
  • Retail inflation(CPI) surged to an almost six-year high of 7.59%.
  • The Index of Industrial Production (IIP) recorded a negative growth of 0.3% in December in comparison to the same month the previous year, according to the National Statistical Office (NSO).
  • The IIP had shown a positive growth of 1.8% in November, after three consecutive months of contraction.
  • IIP contraction came largely on the back of a 1.2% slump in the manufacturing sector
  • NSO’s Consumer Price Index (CPI) data showed retail inflation had surged from 7.35% in December 2019 to 7.59% in January 2020, mostly due to costlier food items.

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